Short interest for T. Rowe Price Blue Chip Growth ETF gives investors a sense of the degree to which investors are betting on the decline of T. Rowe Price Blue Chip Growth ETF's stock. Short interest data is updated every two weeks.

T. Rowe Price Blue Chip Growth ETF (ARCA:TCHP), Short Interest Report

Fintech news covering the emerging Financial Technology services sector

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TDVG

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TGRW

TROW

T. Rowe Price Group (NASDAQ: TROW), a global investment organization, formally announced its active exchange-traded funds (ETFs) were added to major commission-free platforms.

T. Rowe Price Adds Active ETFs To Commission Free Platforms

T. Rowe Price Blue Chip Growth ETF

Morgan Stanley analyst Craig Hettenbach downgrades Definitive Healthcare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) from Overweight to Equal-Weight and lowers the price target from $11.5 to $9.

News

Downgrades

Price Target

Analyst Ratings

Morgan Stanley Downgrades Definitive Healthcare to Equal-Weight, Lowers Price Target to $9

Needham analyst Ami Fadia reiterates Intra-Cellular Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) with a Buy and maintains $90 price target.

Reiteration

ITCI

Needham Reiterates Buy on Intra-Cellular Therapies, Maintains $90 Price Target

Morgan Stanley analyst Dara Mohsenian upgrades Energizer Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENR#NYSE">ENR</a>) from Underweight to Equal-Weight and maintains $33 price target.

Upgrades

Morgan Stanley Upgrades Energizer Hldgs to Equal-Weight, Maintains $33 Price Target

Needham analyst Ryan Koontz reiterates Adtran Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) with a Buy and maintains $8 price target.

ADTN

Needham Reiterates Buy on Adtran Holdings, Maintains $8 Price Target

Tech Youtuber&nbsp;Marques Brownlee, popularly known as&nbsp;MKBHD, has reviewed&nbsp;Apple Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) latest&nbsp;iPad Pro&nbsp;and&nbsp;iPad Air&nbsp;models, saying that no matter how powerful the devices are, they are still iPads.&nbsp;
What Happened: On Wednesday, Brownlee posted a video on&nbsp;YouTube&nbsp;titled, "M4 iPad Pro Impressions: Well This is Awkward."&nbsp;
He started by saying, &#8220;We&#8217;ve been saying this for years: it kind of doesn&#8217;t matter how powerful they make the iPad; it&#8217;s still an iPad.&#8221;&nbsp;
&#8220;We&#8217;ve seen gigantic improvements in the M series chips and these iPads are like the most powerful chips ever on paper, but they're still iPads. So the last thing we need after all this time is just another spec-bumped iPad,&#8221; he added.
See Also:<a target="_blank" href="https://www.benzinga.com/news/24/05/38689467/elon-musk-isnt-sure-apples-showed-its-entire-30b-r-d-prowess-with-new-ipads-maybe-they-have-some-sec?itm_source=parsely-api" rel="noreferrer noopener">&nbsp;Elon Musk Isn&#8217;t Sure Apple&#8217;s Showed Its Entire $30B R&amp;D Prowess With New iPads: &#8216;Maybe They Have Some Secret Products…&#8217;</a>
He noted that the new iPad Air now comes with an M2 chip and for the first time there's a larger model as the latest device has two sizes: 11-inch and 13-inch.&nbsp;
"I had to clarify just because the last one was 10.9 inches so are they just simplifying the name like is it&nbsp;actually&nbsp;bigger? And turns out, yeah, there is just a little bit more screen here. Great, but other than that it&#8217;s pretty predictable. It&#8217;s a spec bump."&nbsp;
Brownlee then spoke about the new iPad Pro, highlighting that the device is Apple's thinnest product innovation. "That&#8217;s including phones, that&#8217;s including like old iPods and everything. The 11-inch is 5.3 mm thin and the 13-inch is 5.1 mm thin. So that&#8217;s literally thinner than the iPod Nano ever was. It&#8217;s nuts."&nbsp;
The YouTuber also mused who would have asked Apple for a thinner iPad Pro, but that's the update they went with. "There's kind of no denying that it's at least physically impressive to look at."
The new iPad Pro also comes with new M4 chips, but there are no improvements in the battery life. "Apple&#8217;s going ‘Hey we think that that was enough battery life in the last gen so we&#8217;re just going to match that' and that means we can go way thinner with less battery because the new chip is more efficient."&nbsp;
According to Brownlee, the most interesting part of the whole tablet event was Apple introducing the new tandem OLED display with iPad Pro. 
Subscribe to the&nbsp;<a target="_blank" href="https://bztechtrends.beehiiv.com/subscribe" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
"You can&nbsp;basically&nbsp;think of it as two different OLED displays stacked on top of each other and then the new display driver on M4 can address both layers simultaneously. So that&#8217;s what&#8217;s allowing them to get&nbsp;really&nbsp;high local brightness," he stated.&nbsp;
Adding, "That&#8217;s 1000 nits of peak full-screen brightness and 1,600 nits of peak HDR brightness on an OLED on an iPad size screen, and in person, it looks well it looks like a&nbsp;really&nbsp;bright OLED it looks super colorful.&#8221;
The YouTuber also touched upon the new&nbsp;Apple Pencil Pro&nbsp;saying&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38689447/will-the-apple-pencil-pro-work-with-your-ipad-heres-what-the-buyers-need-to-know" rel="noreferrer noopener">it&#8217;s "surprisingly precise"</a>&nbsp;and could be a handy tool in the hands of artists. However, the Pencil Pro is only compatible with the newly launched iPad Pro and iPad Air.&nbsp;&nbsp;
About the new Magic Keyboard, Brownlee said that it is lighter than the previous generation model, and the trackpad is bigger. "There&#8217;s a whole function row at the top now that is super useful and the pass-through charging is even faster."&nbsp;
In the end, he circled back to his initial point, that "we just got another set of specs-bumped iPads." He also said that there's nothing these new iPads can do that the M1 models cannot.&nbsp;
&#8220;We have these&nbsp;really&nbsp;impressive spec-bumped iPad Pros, the most powerful iPads of all time the thinnest Apple devices&nbsp;literally&nbsp;ever made, but the list of things it can do, is the same as my 3-year-old M1,&#8221; he said.&nbsp;
He was referring to the &#8220;awkward&#8221; timing of the release, given that Apple&#8217;s&nbsp;Worldwide Developer Conference&nbsp;or&nbsp;WWDC&nbsp;is&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38362506/apples-next-big-leap-how-ai-software-and-wwdc-announcements-could-fuel-growth" rel="noreferrer noopener">just around the corner</a>, where significant software updates are expected.
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Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:<a href="https://www.benzinga.com/news/24/05/38664076/elon-musk-says-there-should-be-more-to-life-than-just-solving-one-problem-after-another-if-you-ask-a?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/news/24/04/38512965/youtube-tech-reviewer-mkbhd-deems-rabbit-r1-barely-reviewable-after-humane-ai-pin-takedown-its-just">YouTube Tech Reviewer MKBHD Deems Rabbit R1 &#8216;Barely Reviewable&#8217; After Humane AI Pin Takedown: &#8216;It&#8217;s Just Exhausting&#8217;</a>
Photo courtesy: Apple

Tech

Media

AAPL

YouTube Tech Reviewer MKBHD Scoffs At Apple's New iPad Lineup: 'It's A Spec Bump'

Exane BNP Paribas analyst Max Gumport downgrades WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) from Neutral to Underperform and announces $20 price target.

Exane BNP Paribas Downgrades WK Kellogg to Underperform, Announces $20 Price Target

Shell plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) said its subsidiary, Shell Singapore Pte Ltd, has&nbsp;reached an agreement&nbsp;to&nbsp;<a target="_blank" href="https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html" rel="noreferrer noopener">sell&nbsp;</a>its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd.
CAPGC is a joint venture&nbsp;company&nbsp;between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd.&nbsp;
Chandra Asri is an Indonesian chemical and infrastructure solutions company&nbsp;and&nbsp;Glencore&nbsp;Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>) is one of the world&#8217;s largest global diversified natural resource companies and a producer and marketer of more than 60 commodities that advance everyday life.
The transition&nbsp;is expected&nbsp;to transfer&nbsp;all of&nbsp;Shell&#8217;s interest in Shell Energy and Chemicals Park Singapore, including the physical assets and commercial contracts, to CAPGC.
The decision comes after Shell initiated a strategic review of its Energy and Chemicals Park assets&nbsp;on&nbsp;Bukom and Jurong Island&nbsp;in June 2023.
The Pulau Bukom assets include a 237,000 barrels-per-day refinery and a 1.1 million tonnes-a-year ethylene cracker.&nbsp;Shell Jurong Island occupies more than 60 hectares&nbsp;on Jurong Island&nbsp;and manufactures petrochemicals, including ethylene oxide, ethoxylates, styrene monomer, and propylene oxide.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38650512/shell-shifts-gears-in-south-africa-reportedly-exits-downstream-unit" rel="noreferrer noopener">Shell Shifts Gears in South Africa, Reportedly Exits Downstream Unit</a>
Shell and CAPGC have also signed crude supply and products offtake agreements that will come into effect following completion.
After the completion, all employees providing dedicated support to&nbsp;the Shell&nbsp;Energy and Chemicals Park Singapore will retain their employment with CAPGC.
The transaction&nbsp;is expected&nbsp;to&nbsp;be completed&nbsp;by the end of 2024.
&#8220;This agreement marks a significant step in Shell&#8217;s ongoing efforts to high-grade our Chemicals and Products&nbsp;business,&nbsp;and is a testament to our commitment to deliver more value with&nbsp;less&nbsp;emissions, as outlined at our Capital Markets Day last year,&#8221; said Shell&#8217;s Downstream, Renewable and Energy Solutions Director, Huibert&nbsp;Vigeveno.
At the end of the first quarter, Shell had a net debt of&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38584564/shell-q1-earnings-power-shines-despite-revenue-headwinds" rel="noreferrer noopener">$40.5 billion, with a gearing ratio of 17.7%</a>.&nbsp;
Shell stock has gained more than 19% in the last 12 months. Investors can gain exposure to the stock via Direxion Hydrogen ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HJEN#NYSE">HJEN</a>) and VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
Price Action: SHEL shares are trading lower by 0.47% at $72.63 in premarket at the last check Wednesday.
Image by siam.pukkato via Shutterstock

Equities

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General

GLNCY

Market Vectors RVE Hard Assets Producers ETF

HJEN

SHEL

Energy Shift: Shell Offloads Singapore Energy And Chemicals Park To Glencore-Chandra Asri Capital Joint Venture

Autohome (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATHM#NYSE">ATHM</a>) reported quarterly earnings of $0.14 per share which missed the analyst consensus estimate of $0.49 by 71.43 percent. This is a 75.44 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $222.85 million which beat the analyst consensus estimate of $220.60 million by 1.02 percent. This is a 0.21 percent decrease over sales of $223.31 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

ATHM

Autohome Q1 Adj $0.14 Misses $0.49 Estimate, Sales $222.85M Beat $220.60M Estimate

Needham analyst Serge Belanger reiterates Heron Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTX#NASDAQ">HRTX</a>) with a Buy and maintains $5 price target.

HRTX

Needham Reiterates Buy on Heron Therapeutics, Maintains $5 Price Target

Deutsche Bank analyst Steve Powers upgrades Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) from Sell to Hold and announces $273 price target.

Deutsche Bank Upgrades Boston Beer Co to Hold, Announces $273 Price Target

Needham analyst Matt McGinley maintains BellRing Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) with a Buy and raises the price target from $62 to $66.

BRBR

Needham Maintains Buy on BellRing Brands, Raises Price Target to $66

Baird analyst William Power upgrades Datadog (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) from Neutral to Outperform and raises the price target from $130 to $140.

DDOG

Baird Upgrades Datadog to Outperform, Raises Price Target to $140

Needham analyst Laura Martin maintains Innovid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTV#NYSE">CTV</a>) with a Buy and raises the price target from $2.25 to $3.

Needham Maintains Buy on Innovid, Raises Price Target to $3

Baird analyst Garrett Holland upgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Neutral to Outperform and maintains $205 price target.

ODFL

Baird Upgrades Old Dominion Freight Line to Outperform, Maintains $205 Price Target

China is witnessing a rapid advancement in the field of artificial intelligence, which is significantly accelerating the development of humanoid robots.
What Happened: The emergence of AI models like OpenAI&#8216;s ChatGPT is revolutionizing the way AI understands and generates human-like content. This technological leap is expediting the development of humanoid robots in China, a country that hosts a significant number of global factories, <a href="https://www.cnbc.com/2024/05/08/how-generative-chatgpt-like-ai-is-accelerating-humanoid-robots.html">reported</a> CNBC.
Local companies in China, such as Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), have introduced similar chatbots and AI models, further propelling the progress in this field.
Generative AI is proving to be a game-changer in the robotics industry, enhancing machines&#8217; ability to understand and perceive their surroundings. This has led to a significant reduction in the projected timeline for the development of humanoid robots.
See Also: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
Li Zhang, the Chief Operating Officer of LimX Dynamics, a Shenzhen-based startup, initially estimated an 8-10 year timeline for the production of humanoid robots. However, with the integration of generative AI, Li now anticipates that certain use cases will be ready in 5-7 years."It has accelerated our entire research and development cycle," he said.
In November, Chinese state media released an image showing Chinese President Xi Jinping observing a humanoid robot at an exhibition center during his inaugural <a href="https://english.news.cn/20231129/ef5d4730f9e74b2d87a4186f022ef7d4/c.html">visit to Shanghai</a> since the pandemic. The robot in question was created by Fourier Intelligence.
Steve Hoffman, the chairman of the startup accelerator Founders Space, revealed his collaboration with Fastra, a Chinese startup poised to commence large-scale robot production within a year. He mentioned dedicating time in China this year to instructing local enterprises on incorporating generative AI into their operations.
Why It Matters: The advancements in AI and robotics are reshaping the future of automation and labor. This is evident in the significant investments and developments in the field of humanoid robots in China.
Earlier in March, Jensen Huang, the CEO of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), explained that the company&#8217;s decision to venture into <a href="https://www.benzinga.com/news/24/03/37862375/jensen-huang-reveals-why-nvidia-is-betting-big-on-humanoid-robot-and-embodied-ai">humanoid robots</a> was driven by the fact that most of the data used to train them is derived from human movements.
Meanwhile, Elon Musk, the CEO of Tesla Inc, has been making significant strides in the development of humanoid robots. Musk recently hinted at the possibility of Tesla&#8217;s humanoid robot, Optimus, being <a href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he">available for external sale</a> by the end of 2025.
Read Next: <a href="https://www.benzinga.com/news/24/05/38634153/jack-dorsey-steps-down-from-bluesky-board-amidst-controversy-at-block-refers-to-elon-musks-x-as-free?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jack Dorsey Steps Down From Bluesky Board Amidst Controversy At Block, Refers To Elon Musk&#8217;s X As &#8216;Freedom Technology&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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BIDU

NVDA

China's AI Advancements Accelerate Humanoid Robot Development: What You Need To Know

A Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) executive has publicly acknowledged an employee who raised concerns about the 787 Dreamliner&#8217;s quality checks.
What Happened: Scott Stocker, the head of Boeing&#8217;s 787 manufacturing program, praised the employee for his actions in an internal memo on Apr. 29, <a href="https://www.businessinsider.com/boeing-celebrating-latest-employee-come-forward-with-dirt-about-it-2024-5?IR=T">reported</a> Business Insider on Monday. The employee had brought up issues with the 787 Dreamliner&#8217;s quality checks to his superiors.
&#8220;I wanted to personally thank and commend that teammate for doing the right thing &#8230; It&#8217;s critical that every one of us speak up when we see something that may not look right, or that needs attention,&#8221; Stocker wrote in the memo, according to the report.
The Federal Aviation Administration announced on Monday that it was investigating whether Boeing employees had falsified safety records for the 787. Boeing had voluntarily reported the lapse to the regulators.
Stocker&#8217;s commendation comes at a time of intense scrutiny for Boeing. The company has faced repeated quality assurance issues in recent years, including a door plug from a Boeing 737 Max 9 blowing out mid-flight in January, leading to the grounding of over 170 such planes by the FAA.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38635317/its-an-obvious-move-elon-musk-nudges-warren-buffett-again-to-take-position-in-tesla-heres-why-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;It&#8217;s An Obvious Move:&#8217; Elon Musk Nudges Warren Buffett Again To Take Position In Tesla — Here&#8217;s Why That</a>
Boeing CEO Dave Calhoun acknowledged the challenging period in a letter to employees last month, emphasizing that &#8220;safety and quality must and will come above all else.&#8221;
Boeing did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: This is the latest in a series of controversies surrounding Boeing. The company has been hit with <a href="https://www.benzinga.com/markets/equities/24/04/38330613/boeing-grapples-with-32-whistleblower-complaints-in-3-years-amid-mounting-safety-concerns-report">32 whistleblower complaints</a> over the past three years, with the U.S. workplace safety regulator investigating allegations of employer retaliation. 
The sudden <a href="https://www.benzinga.com/government/24/05/38596243/another-boeing-whistleblower-dies-this-time-due-to-sudden-infection">deaths of two whistleblowers</a>, including a former Boeing manager and a quality auditor for Boeing&#8217;s supplier, Spirit AeroSystems, have further intensified the spotlight on Boeing&#8217;s safety and quality control issues.
In April, a Boeing 737 Max 9 flown by Alaska Air Group, Inc lost an emergency door in the middle of a flight, adding to the company&#8217;s safety concerns.
Despite the ongoing challenges, Calhoun is expected to retire at the end of this year with a <a href="https://www.benzinga.com/24/03/37951542/boeing-ceo-dave-calhoun-retires-amid-safety-crisis-departs-with-multi-million-dollar-exit-package">substantial financial package</a>. His tenure has been marked by persistent safety and quality control issues, which have significantly impacted Boeing&#8217;s reputation and performance.
Meanwhile, a Boeing engineer has called for the <a href="https://www.benzinga.com/news/24/04/38284171/boeing-whistleblower-urges-grounding-of-all-787-dreamliners-worldwide-citing-premature-failure-conce">grounding of the entire 787 fleet</a> due to safety concerns. The engineer, Sam Salehpour, is set to testify before Congress on the safety issues at Boeing, which he had previously reported to the Federal Aviation Administration (FAA) in a complaint earlier this year.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38683524/rivian-q1-earnings-highlights-revenue-beat-eps-miss-vehicle-guidance-reaffirmed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rivian Q1 Earnings Highlights: Revenue Beat, EPS Miss, Vehicle Guidance Reaffirmed</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Global

Boeing 787 Program Chief Lauds Employee For Speaking Up On Quality Checks: 'Doing The Right Thing'

Piper Sandler analyst Clarke Jeffries maintains Aspen Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>) with a Neutral and lowers the price target from $196 to $180.

AZPN

Piper Sandler Maintains Neutral on Aspen Technology, Lowers Price Target to $180

Piper Sandler analyst Clarke Jeffries reiterates Bentley Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) with a Overweight and raises the price target from $60 to $63.

Piper Sandler Reiterates Overweight on Bentley Systems, Raises Price Target to $63

Texas, prone to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/21/02/19682403/whats-to-blame-for-widespread-texas-power-outages" rel="noreferrer noopener">frequent power outages</a>&nbsp;due to grid strain, is seeing a new player in the home energy storage market:&nbsp;Base Power.&nbsp;
Founded in Austin last year by&nbsp;Zach Dell, son of PC billionaire&nbsp;Michael Dell, and&nbsp;Justin Lopas, the company aims to provide a more reliable and potentially cheaper alternative to the existing system.
The Problem &amp; The Solution:&nbsp;Dell believes the current Texas grid is outdated and unreliable, according to a Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-07/electric-bill-issues-texans-get-a-new-option" rel="noreferrer noopener">report</a>, leading to blackouts and volatile energy prices.&nbsp;
Base Power proposes installing battery storage systems in customers&#8217; homes for $2,000, significantly lower than&nbsp;<a href="https://www.benzinga.com/news/23/09/34942215/tesla-trims-powerwall-price-by-300-but-its-still-a-pricey-investment-for-backup-energy" target="_blank" rel="noreferrer noopener">Tesla</a><a href="https://www.benzinga.com/news/23/09/34942215/tesla-trims-powerwall-price-by-300-but-its-still-a-pricey-investment-for-backup-energy" target="_blank" rel="noreferrer noopener">&#8216;s&nbsp;</a><a href="https://www.benzinga.com/news/23/09/34942215/tesla-trims-powerwall-price-by-300-but-its-still-a-pricey-investment-for-backup-energy" target="_blank" rel="noreferrer noopener">Powerwall</a>&nbsp;($8,400). Their model involves creating a network of these batteries to manage energy use across the system.
See Also: <a href="https://www.benzinga.com/money/best-green-energy-stocks" target="_blank" rel="noreferrer noopener">Best Green Energy Stocks</a>
The Technology &amp; Funding:&nbsp;Base Power plans to use software to monitor energy prices, charging batteries when electricity is cheap and using them during peak hours.&nbsp;
The company has secured $68 million in funding from investors like Thrive Capital (founded by Jared Kushner&#8216;s brother, Josh Kushner) and Valor Equity Partners. Despite a small team of 20, they aim to become a major player in the energy sector.
Challenges &amp; Opportunities:&nbsp;Switching energy providers in Texas is complex due to some regulatory caveats. However, Base Power believes its network can offer stability to grids nationwide. 
The company has recruited talent from Anduril (<a href="https://www.benzinga.com/markets/equities/23/10/35164612/gm-defense-teams-up-with-anduril-to-deliver-battery-electrification-new-propulsion-technologies" target="_blank" rel="noreferrer noopener">a defense startup</a>&nbsp;whose manufacturing unit was formerly headed by Lopas) with expertise in energy management and user interfaces, as well as&nbsp;Elon Musk&#8216;s&nbsp;Tesla&nbsp;and&nbsp;SpaceX. Investors reportedly value the company at $300 million.
Standing Out From Tesla Electric:&nbsp;Tesla also offers solar energy solutions (Tesla Electric) but only to Powerwall owners in Texas. This allows customers to create&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36351333/tesla-electric-customer-makes-1-000-in-2023-gets-free-electricity-heres-how" rel="noreferrer noopener">&#8220;virtual power plants&#8221;</a>&nbsp;generating their&nbsp;own&nbsp;electricity. However, Base Power&#8217;s lower price point could be a game-changer.
Texas&#8217; Unique Energy Landscape:&nbsp;Texas has its&nbsp;own&nbsp;power grid, separate from the Eastern and Western interconnects of the United States. This independence allows the Lone Star state to leverage resources like oil, wind, and solar. However, during extreme weather events, the grid&nbsp;<a href="https://www.benzinga.com/general/23/06/32950886/texas-power-grid-strains-consumers-urged-to-cut-back-energy-use-during-heatwave" target="_blank" rel="noreferrer noopener">struggles to meet demand</a>, resulting in outages.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38692589/ai-boom-to-drive-billions-in-data-center-investments-in-apac-report" target="_blank" rel="noreferrer noopener">AI Boom To Drive Billions In Data Center Investments In APAC: Report</a>
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Startups

Michael Dell's Son Plans To Beat Texas Blackouts With A $300M Home Battery Startup That Aims To Slay Tesla's Powerwall Price

Piper Sandler analyst Brent Bracelin downgrades ZoomInfo Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) from Overweight to Neutral and lowers the price target from $24 to $15.